Question

If the compound interest on a sum of Rs.8000 for 2 years is Rs.1680 then the rate of interest is (interest compounded yearly)

Answer 1

Answer:

When someone's having a bad day,

A smile could go a long way,

So make sure to put one on

And keep it until the day is gone.

You don't know what this deed

Could do for a friend in need.

It might save them from the pain

Of a sadness they cannot contain.

Don't ask what a smile can do

Because I'm sure it once helped you.

Answer 2

Step-by-step explanation:

(i) Here Principal (P) = Rs. 8,000

Rate of interest = 10%

Interest for the first year = (8,000 × 10 × 1)/100

= Rs. 800

(ii) ∴ Amount = Rs. 8,000 + Rs. 800 = Rs. 8,800

Thus principal for the second year = Rs. 8,800

(iii) Interest for the second year

= (8,800 × 10 × 1)/100 = Rs. 880

(iv) Amount at the end of the second year = Rs.

8,800 + Rs. 880 = Rs. 9,680

(v) Hence compound interest earned in 2 years

= Rs. 9,680 – Rs. 8,000 = Rs. 1680